October 16, 2013
Santiago, Chile
The path to tyranny is almost always paved with good
intentions.
And so, enter
stage left, the innocuously named Consumer Financial Protection Bureau
(CFPB).
These government
agencies with the catchy, high-sounding names are always the most dangerous.
After all, it was the 'Committee for Public Safety' that was responsible for
wanton genocide during the post revolution Reign of Terror in France.
Recently, the CFPB 'encouraged'
retail banks in the Land of the Free to 'help' their customers regarding
international wire transfers. And by 'help', they mean prohibit.
Of course it's all for
'consumer protection'.. So under the guise of safety and security, several banks
will curtail retail customers' abilities to send international wire
transfers.
Chase, for example,
will start to limit
cash withdrawals and ban business customers from sending
international wire transfers from November 17 onward.
And starting October 20th, HSBC USA's Premier
clients will have to wait a minimum of five days before transferring funds to
their OWN international accounts!
This is the very nature of capital controls-- restricting
the free flow of capital across borders until it is trapped inside the country
and forcibly denominated in a rapidly devaluing currency.
And this is exactly how it starts... making it more
difficult to move money abroad.
We've been writing for years that this would happen. This
isn't some tin-foil hat conspiracy. This is reality.
Throughout history, bankrupt governments have almost
always resorted to these same desperate tactics.
As the US government is hours away from crossing the
fiscal Rubicon, it only seems appropriate. They are bankrupt, and they are
desperate.
I've written so
many times before that the US government fails to collect enough tax revenue to
pay for mandatory entitlements gross interest on the debt.
In other words, they could eliminate practically
everything we think of as government (like the military) and still be in the
hole by tens of billions of dollars.
This is not a mark of a wealthy nation. And nearly every
other government throughout history that reached this position resorted to
plunder, confiscation, and destruction of liberty.
Every bit of objective data points to the same conclusion.
And with this new information, it appears that the consequences of inaction are
coming soon.
One day, perhaps
just months from now, all of this will seem obvious... to everyone. People will
look back and think 'duh, how did I not see that coming?'
But rest assured, when the masses figure it out,
every window of opportunity to protect yourself from the negative consequences
will be slammed shut.
Your
instincts are probably telling you that something is wrong. It's time to trust
them. And to take action.
But
it's critical to have the right information to do that.
My team and I have spent months putting together a
low
cost quickstart action kit-- a crash course of sorts to help you get
started right away.
This kit
contains the bare essentials of what you need to know, and do, right now... to
protect your savings, safeguard your family, and preserve what you have worked
to build for your entire life.
Right now, there is still time to take some of these basic
steps. And I really want to encourage you to take advantage of this time while
the window is still open. The tiniest effort and investment right now can make
an enormous difference down the road as this trend continues to unfold.
Unless, of course, you trust your
government. In which case I encourage you to do nothing and enjoy the
ride.
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